Air Force Gives Lockheed $200M To Build GPS Satellites

Law360, New York (December 16, 2013, 4:14 PM EST) -- The U.S. Air Force has awarded Lockheed Martin Corp. more than $200 million in contract options to complete its fifth and sixth next-generation global positioning system satellites, Lockheed announced Monday.

The satellites, known as GPS III, are “critically important” for the Air Force and will replace the aging GPS satellites currently being used for military, commercial and civilian purposes, according to Lockheed Martin.

"Lockheed Martin's GPS III program has a rigorous testing plan and mission-success focus aligned with the Air Force's back-to-basics approach, and is specifically...